Energy & Oil

• Thursday, February 19th 2015 - 06:02 UTC

  GeoPark scales down operations in Magallanes because of falling oil prices

  

  Oil company GeoPark which operates in Magallanes, extreme south of Chile, reiterated its commitment and long term investment in the region but also announced the redundancy of 30 staff, first time in twelve years, because of a restructuring of the company to the new global oil industry scenario.

• Thursday, February 19th 2015 - 05:57 UTC

  Colombia's Ecopetrol slashes offshore exploration budget

  

  Colombia's state-run oil producer Ecopetrol will drill three offshore wells this year, two off its Caribbean Coast and a third in the Gulf of Mexico, after slashing its offshore exploration budget to 200 million dollars down from 632 million last year, the company said.

• Wednesday, February 18th 2015 - 04:28 UTC

  Venezuela ready to address fuel prices: “piece of candy cannot cost more than a liter of gasoline”

  

  Venezuelan Finance minister Rodolfo Marco Torre announced that ”soon there will be important announcements on the issue of gasoline”, underlining that “a piece of candy cannot cost more than a liter of gasoline”.

• Tuesday, February 17th 2015 - 05:49 UTC

  Chilean city delegation visits UK to explore energy efficiency and new technologies

  

  A Chilean delegation representing the city of Antofagasta visited the UK to explore energy efficiency best practices and new technologies. The visit was an essential component of the “Action Plan for the city of Antofagasta´s Sustainable Energy Strategy” project that the British Embassy Santiago is currently supporting through the Prosperity Fund.

• Tuesday, February 17th 2015 - 05:40 UTC

  Peru asks Argentine oil company to leave conflict zone while it reassesses contract

  

  Peru will evaluate a natural gas contract it signed with Pluspetrol in 2005 and is asking the Argentine company to leave a restive Amazonian town following deadly protests, the government said on Thursday. Pluspetrol started exploratory activities in natural gas block 108 last year, upsetting locals in the town of Pichanaki who fear it will lead to pollution and hurt farming.

• Tuesday, February 17th 2015 - 05:09 UTC

  Rolls-Royce allegedly caught in the Petrobras bribery scandal

  

  Rolls-Royce has said it does not “tolerate improper business” after the Financial Times reported that the firm had been accused of being caught up in a bribery scandal in Brazil. Ft reported allegations that the company paid bribes for a contract with Brazilian oil firm Petrobras.

• Monday, February 16th 2015 - 21:50 UTC

  Falklands begins consultation on oil impact on society and local culture

  

  Falkland Islands will this month begin to grapple with the big questions about how oil and gas development will impact on their society and culture. The start of a series of focus groups run as part of the Social Effects Monitoring Programme study, led by Regeneris Consulting, and Falkland Island partners Karen Lee and Carolyn Montgomerie, reports the Penguin News in its latest edition.

• Thursday, February 12th 2015 - 05:55 UTC

  Petrobras CEO says he has 'full autonomy' in fuel-price policy and cash flow

  

  The new chief executive officer of Brazil's Petrobras said that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal.

• Thursday, February 12th 2015 - 05:45 UTC

  Petrobras has trouble finding an independent chairman of the board

  

  Petrobras plans to publish its delayed audited fourth-quarter results by the end of March, something it needs to do to avoid possible early repayment of its bonds, the Globo newspaper said on Wednesday. Globo also published that the Brazilian government was considering appointing Planning minister Nelson Barbosa as chairman of the oil giant.

• Thursday, February 12th 2015 - 05:23 UTC

  Explosion in Petrobras floating oil rig kills at least three; six missing

  

  At least three oil workers were killed and others were injured in an explosion at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials have said.